Asset Management One Co. Ltd. Sells 41,223 Shares of International Seaways, Inc. (NYSE:INSW)

Asset Management One Co. Ltd. lowered its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 45.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,087 shares of the transportation company's stock after selling 41,223 shares during the period. Asset Management One Co. Ltd. owned 0.10% of International Seaways worth $2,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of International Seaways in the 3rd quarter worth approximately $28,000. Point72 Asset Management L.P. lifted its position in shares of International Seaways by 55.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company's stock valued at $39,000 after acquiring an additional 361 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of International Seaways by 279.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company's stock valued at $50,000 after acquiring an additional 812 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in shares of International Seaways during the 4th quarter valued at $46,000. Finally, Wells Fargo & Company MN lifted its position in shares of International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company's stock valued at $62,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

International Seaways Stock Down 1.7 %

INSW stock traded down $0.89 during midday trading on Friday, reaching $52.16. 404,859 shares of the company's stock traded hands, compared to its average volume of 439,119. International Seaways, Inc. has a 52 week low of $34.77 and a 52 week high of $55.59. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 4.64 and a beta of -0.05. The firm's fifty day moving average price is $52.53 and its 200-day moving average price is $49.11.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. As a group, sell-side analysts forecast that International Seaways, Inc. will post 9.36 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 9.20%. International Seaways's payout ratio is 4.27%.

Analysts Set New Price Targets

A number of research firms recently issued reports on INSW. Jefferies Financial Group reiterated a "buy" rating and set a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com upgraded shares of International Seaways from a "hold" rating to a "buy" rating in a research report on Saturday, April 6th.

Insider Transactions at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the sale, the chief financial officer now owns 69,010 shares in the company, valued at approximately $3,684,443.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares of the company's stock, valued at approximately $3,684,443.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total transaction of $318,540.00. Following the completion of the transaction, the director now directly owns 19,098 shares in the company, valued at $1,013,912.82. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock worth $3,073,978 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.